How Much Can Each Person Put in HSA Account in 2018?

When it comes to saving for healthcare expenses, Health Savings Accounts (HSAs) are a great option. An HSA allows you to set aside money on a pre-tax basis to pay for qualified medical expenses. One common question that people have is how much they can contribute to their HSA account in a given year.

In 2018, the contribution limits for HSA accounts are as follows:

• For individuals: $3,450
• For families: $6,900
• Individuals aged 55 and older can make an additional catch-up contribution of $1,000

It's important to note that these limits are set by the IRS and may change from year to year.

Contributing to an HSA can provide tax advantages and help you save for future medical expenses. Be sure to consult with a financial advisor or tax professional to understand how an HSA fits into your overall financial plan.

Health Savings Accounts (HSAs) are so much more than just a savings tool; they're a financial safety net for unexpected medical expenses. In 2018, the contribution limits were designed to help individuals and families allocate funds efficiently.